Economic Buzz: US Wholesale Inventories Spike 2.2% In December

10 Feb 2022 , 08:40 AM

US wholesale inventories shot up by 2.2 percent in December after jumping by 1.7 percent in November, a report released by the Commerce Department on Wednesday showed. The continued spike in wholesale inventories came as inventories of durable goods soared by 2.6 percent and inventories of non-durable goods leapt by 1.6 percent. Meanwhile, the report showed wholesale sales edged up by 0.2 percent in December after surging by 1.7 percent in November. A 0.5 percent increase in sales of durable goods was partly offset by a 0.1 percent dip in sales of non-durable goods.

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